The United States economy unexpectedly lost 92,000 jobs in February, raising concerns that the country’s labour market may be starting to weaken. At the same time, the unemployment rate rose to 4.4%, up from 4.3% in January, according to the latest government data.
Economists had earlier expected the economy to add new jobs during the month. Instead, the report showed a sharp drop in employment, suggesting that companies may be becoming more cautious about hiring.
Several sectors recorded job losses. The healthcare sector saw a significant decline in employment, partly due to labour strikes and disruptions in some medical services. Other industries such as manufacturing, transportation and information services also reported fewer jobs, reflecting slower business activity and economic uncertainty.
The data also showed that about 7.6 million people are currently unemployed in the United States. Meanwhile, the labour force participation rate, which measures the share of people either working or actively looking for work, remained around 62%.
Despite the fall in employment, wages continued to rise slightly. Average hourly earnings increased compared to last year, showing that some companies are still raising pay in order to keep workers. This suggests that while hiring may be slowing, demand for skilled workers remains relatively steady.
Some experts believe the drop in jobs may have been influenced by temporary factors, including strikes and severe winter weather that disrupted business activities in some parts of the country. However, others say the report could be a sign that the strong job market seen in recent years is gradually cooling.
The weaker labour data has also drawn attention from policymakers. The US Federal Reserve closely watches employment figures when deciding on interest rates and economic policy. A slowdown in hiring could increase pressure on the central bank to support economic growth.